Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: form 3cd :: cpt :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: VAT RATES :: list of goods taxed at 4% :: VAT Audit
 
 
« News Headlines »
 Income Tax Department expands list of deposits, transactions under scrutiny
  Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962
 Master Directions on Access Criteria for Payment Systems
 RBI-Scheduled Bank's Statement of Position in India as on Friday, January 06, 2017 (Revised)
 3 Big Mistakes To Avoid This Tax Season
 The Top 5 Tax Stories Of 2017
 Are multiple service tax rates in the offing?
 All you need to know about claiming tax break on HRA
 How much income tax you should pay on investments in gold?
  Best ways to save tax in 2017
 8 unknown stocks that could yield huge returns

DT target may be revised to Rs 3,92,000 cr
June, 12th 2008

Upbeat over 36 per cent growth in direct tax collections last fiscal, the Government on Monday said budget estimate under this head will be revised upwards substantially from around Rs 3,65,000 crore for 2008-09.

Talking to reporters, Finance Minister P Chidambaram indicated that budget estimate for direct tax collections may be increased to over Rs 3,92,000 crore for this fiscal.

The estimate will no longer be Rs 3,65,000 crore. The CBDT will meet over the next couple of days and increase the estimate upwards, Chidambaram said after inaugurating two-day annual conference of Chief Commissioners of Income Tax.

Even if you take a 25 per cent increase over last years collection of over Rs 3,14,468 crore, the budget estimates must be revised upward very sharply, he said. Twenty five per cent growth over the last years collection will push the estimate of direct tax collection to over Rs 3,92,000 crore.

When asked what is the rationale of being so upbeat on direct tax collection despite fear of slowdown in economic growth, Chidambaram reiterated that every estimate says that Economy will still grow at 8.5 per cent this fiscal.

Referring to non-compliance of TDS rules by the some ministries, he said, We are not happy with TDS deductions in the Defence Ministry and Railways Ministry. We are taking steps to sensitise the authorised deductors in the government sector to comply with law and improve the TDS. Steps are being taken to work with the Ministries of Defence and Railways. So, we are confident there would be significant improvement in 2008-09, he said.

On prosecution of tax evaders, he said directions have been issued that if during a search or survey a person is found that he has stopped filing returns for the past three years or has never filed a return, invariably such a case will be taken for prosecution.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions